Topline
Tesla and SpaceX CEO Elon Musk is gearing up to create a university in Austin, Texas, according to tax filings obtained by Bloomberg that revealed the educational institution is seeded with a $100 million gift from the worldâs richest person.
Key Facts
The organization plans to launch a STEM-focused primary and secondary school with an initial class of 50 prior to the university, which will be âdedicated to education at the highest levelsâ and will seek accreditation from the Georgia-based Southern Association of Colleges and Schools Commission on Colleges, according to the filing, which requested tax-exempt status.
Details on the school are scant, but the filing says the university will employ âexperienced facultyâ and have a traditional curriculum backed by hands-on learning experiences including âsimulations, case studies, fabrication/design projects and labs.â
Students will be selected on merit, according to the filing, which notes the school doesnât guarantee admission to foundation trustees, officers, employees or their family members.
Representatives for Musk didnât immediately respond to Forbesâ request for comment.
Big Number
$410 million. Thatâs how much money Forbes estimates Musk has given to charity during his lifetime. The figure excludes amounts still sitting in his foundation, which received $7.9 billion of his Tesla stock from 2021-2022, and amounts sent to donor advised funds for which the end recipients are unknown.
This is a developing story. Check back for updates.